*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

Home to one of the biggest banana plantations in the world, the city of Jalgaon was quick to embrace the development and growth offered by planned industrialisation. Modern Jalgaon has excellent educational institutions and hospitals, and a fast expanding residential suburb – the result of a rising construction boom in the city. All this growth and development has led to the residents of this city viewing gold in a way their ancestors didn’t – as an investment instead of just as jewellery or as a measure of success and prosperity.

Gold jewellers in Jalgaon are highly sought after for their skill, and people from all over the country prefer purchasing gold from the generations-old jewellers and jewellery shops in Jalgaon, despite the slightly higher prices.

Gold rate in Jalgaon

The base gold rate fluctuates and varies from time to time based on many factors like international market trends, interest rate fluctuations from international Reserve banks, etc. The base price of gold also depends on the purity of the gold in question.

24 karat gold: The most pure form of gold that can be physically traded is 24 karat gold of 99.9% purity. Since completely pure gold of this karat rating is usually brittle and soft, it isn’t preferred by jewellers for their craft. This type of gold is usually traded as bullion or coins, and held as investments to gain value over time. It is the most valuable form of gold that can be commercially traded on a large scale. Currently, the price for 10 grams of 24 karat gold in Jalgaon is Rs.29,760 (as on 11th March, 2016). Over the last week, the gold rate has risen and dipped marginally, as it was Rs.29,500 on the 2nd of March, Rs.29,900 on the 5th, and dipped down to Rs.29,690 on the 10th before settling at Rs.29,760 on the 11th.

22 karat gold: This is the most valuable gold that’s used for making jewellery, etc. This grade of gold has a lower purity rating, as it is purposefully mixed with other metals and “impurities” to increase its strength and make it useful for crafting jewellery, etc. Goldsmiths and jewellers, etc. use 22 karat, 18 karat and 14 karat gold for making jewellery, but 22 karat is the highest in value among these and the most beautiful to behold in the form of ornate jewellery. Currently, the price for 10 grams of 22 karat gold in Jalgaon is Rs.27,820 (as on 11th March, 2016).

Gold Rate Trend in Jalgaon for July 2016 to September 2016 (per gram of 24 karat gold)

Factor

July

August

September

1st day

Rs.3,112 per gram

Rs.3,249 per gram

Rs.3,212 per gram

Last day

Rs.3,249 per gram

Rs.3,225 per gram

Rs.3,279 per gram

Highest price

Rs.3,249 per gram on 31st July

Rs.3,283 per gram on 18th August

Rs.3,285 per gram from 23rd to 26th September

Lowest price

Rs.3,112 per gram on 1st July

Rs.3,226 per gram from 6th August to 9th August

Rs.3,212 per gram on 1st and 2nd September

Trend

Incline

Decline

Incline

Change

+4.40 %

-0.73%

+2.08%

Gold Rate Trend of Jalgaon in July 2016

Gold traded at Rs.3,112 per gram on 1st July, which was also the lowest recorded rate in the month.

Prices increased by Rs.70 on the 2nd of July to settle at Rs.3,182 for the next three days, after which they fluctuated until the end of the second week.

Prices gained stability at Rs.3.226 between the 11th and 15th, followed by an increase which saw prices remain unchanged at Rs.3,234 until the 18th of the month.

Rates then declined marginally and settled at Rs.3,223 between the 22nd and 30th of July, and the precious metal closed the month at Rs.3,249 thanks to a rise on the last day of trading, which also made it the highest recorded rate in July.

Gold Rate Trend of Jalgaon in August 2016

The rate of gold per gram on the 1st of August was recorded at Rs.3,249 and prices remained unchanged for another day.

Fluctuations over the next few days saw prices drop and settle at Rs.3,226 between the 6th and 9th of August, marking the lowest recorded rate in the month.

Domestic demand was stable as jewellers and retailers increased their offtake for the festive season, leading to a consistent increase in rates until the 23rd.

Prices then started to fall until the end of August and the yellow metal closed the month at Rs.3,225 per gram.

Gold Rate Trend of Jalgaon in September 2016

Gold traded at Rs.3,212 per gram on 1st and 2nd September, which was the lowest rate for the month.

The highlight for this month was that the interest rate hike by the U.S. Federal Reserve was put on hold as the U.S. presidential elections were too close.

Prices remained stable from the 3rd of September to the 12th at Rs.3,229 after which an increase saw rates rise to Rs.3,246 and remain stable until the 15th of the month.

Prices declined marginally and remained stable at Rs.3,231 until the 19th, after which consistent rises saw them settle at Rs.3,285 between the 23rd and 26th – the highest recorded rate during the month.

Prices then declined and remained stable for the last four days of the month to close September at Rs.3,279 per gram.

Gold Rate Trend in Jalgaon for April 2016 to June 2016 (per gram of 24 karat gold)

Factor

April

May

June

1st day

Rs. 2,989 per gram

Rs. 3,154 per gram

Rs.3,038 per gram

Last day

Rs. 3,154 per gram

Rs. 3,003 per gram

Rs.3,112 per gram

Highest price

Rs. 3,154 per gram on 31st of April

Rs. 3,155 per gram on 7th to 11th of May

Rs.3,192 per gram on 27th June

Lowest price

Rs. 2,989 per gram on 1st to 11th April

Rs. 3,003 per gram on the 30th and 31st of May

Rs.3,015 per gram on 3rd June

Trend

Rising

Decline

Rise

Change

+ 5.52%

-4.78%

+7.37%

Gold Rate Trend of Jalgaon in April 2016

For the first eleven days of April, Gold traded at Rs. 2,989, the lowest of the month.

Prices increased steadily but declined again on 23rd April to 28th April.

It then rose to Rs. 3,154 marking a 5.52% increase in the prices for the month.

Gold Rate Trend of Jalgaon in May 2016

Gold rates started at Rs. 3,154 on the 1st of May.

It dipped slightly but picked up again on May 7th at Rs. 3,155. It stayed constant till May 11th and declined again.

There were fluctuations in the gold prices in May every few days, but the rates declined by the end of the month.

Gold Rate Trend of Jalgaon in June 2016

Price of gold fluctuated throughout the month of June in Jalgaon with rates increasing towards the end of the month.

Gold opened at Rs.3,038 per gram on the 1st and declined on the 3rd to the lowest rate of the month.

Britain’s exit from the European Union contributed to an increase in prices as investors rushed to purchase this precious metal after this event.

A rise of 7.37% was noted in the rate of gold towards the end of the month as compared to the beginning.

Gold Rate Trend in Jalgaon for January 2016 to March 2016 (per gram of 24 karat gold)

January

February

March

1st day

Rs. 2,436 per gram

Rs. 2,775 per gram

Rs. 3,068 per gram

Last day

Rs. 2,599 per gram

Rs. 3,068 per gram

Rs. 2,989 per gram

Highest price

Rs. 2,612 per gram on January 27th and 28th

Rs. 3,068 per gram on February 27th – 29th

Rs. 3,093 per gram from March 12th to 17th

Lowest price

Rs. 2,436 per gram from January 1st - 3rd

Rs. 2,755 per gram on February 1st and 2nd

Rs. 2,989 per gram on March 22nd – 31st

Trend

Rising

Rising

Decline

Change

+ 6.69%

+ 10.55%

- 2.57%

Gold Rate Trend of Jalgaon in January 2016

Gold traded at Rs. 2,436 per gram on the 1st of January and remained the same for the next three days

Gold hit the highest rate for January on 27th at Rs. 2,612 per gram.

However, it declined again and gold traded at Rs. 2,599 per gram at the end of the month

Gold Rate Trend of Jalgaon in February 2016

Gold remained unchanged at Rs. 2,755 per gram on 1st and 2nd of February as a result of no changes in demand.

Gold shot up to Rs. 3,068 per gram on the 27thof February and remained constant till the end of the month.

The month of February witnessed a steady incline in the gold rates starting at Rs. 2,755 and ending at Rs. 3,068.

Gold Rate Trend of Jalgaon in March 2016

Gold rates remained at Rs. 3068 per gram from the beginning of the month till the 11th of March.

This was followed by a rise in prices recording its highest for the month between 12th March to 17th March at Rs. 3,093.

It then dropped by Rs. 60 for the next four days and continued the declining trend ending the month at Rs. 2,989.

Investment avenues for gold in Jalgaon

Investments in gold can be made in many different ways, the two most common are listed as under:

Market traded gold: Gold that’s traded in the form of E-gold or Gold ETFs rarely involves the investor making any physical contact with real gold, but instead allows him/her to trade representative certificates that are assigned to gold that’s stored in a secure location. These transactions are perfect for those diligent few who wish to profit off the fluctuating gold market, by buying low and selling high, or simply holding on to the gold itself. There is no risk of the physical gold being stolen in these cases, and E-gold and ETF transactions are highly secured online with the best encryption. The Mumbai Stock Exchange facilitates trading in Gold ETFs, and the National Spot Exchange allows investors to trade and hold E-gold.

Traditional physical gold: The old-fashioned way to buy gold – over the counter from a bank or a jeweller is more prominent in Jalgaon. Physical gold is rarely traded as a commodity, but instead bought and stored to be used on auspicious occasions or weddings, and as a determinant of the prosperity and wealth of the person holding the gold. Jalgaon jewellery shops are massive and very well appointed, made not only to cater to the residents of Jalgaon, but to the entire country – as the city attracts many people who wish to purchase gold ornaments made in a very specific style.